Milk And Butter Global Market Report 2023
Major companies in the milk and butter market include Danone S.A., Inner Mongolia Yili Industrial Group Co. Ltd., Fonterra Group Cooperative Limited, Groupe Lactalis S.A., Saputo Inc., Arla Foods amba, Frieslandcampina, Yakult Honsha Co.
New York, April 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Milk And Butter Global Market Report 2023" - https://www.reportlinker.com/p06284480/?utm_source=GNW
Ltd., Louis Dreyfus, and Savencia Fromage & Dairy.
The global milk and butter market grew from $330.22 billion in 2022 to $354.28 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The milk and butter market is expected to grow to $452.24 billion in 2027 at a CAGR of 6.3%.
The milk and butter market consists of sales of sweet buttermilk, sour buttermilk, skimmed milk powder, fat-filled milk powder, whole milk powder, dairy whiteners, reduced-fat milk (2%), whole milk, lactose–free milk, low-fat milk(1%), skim milk, evaporated milk, condensed milk, creamery butter, whey butter, and other milk and butter.The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Milk is liquid food produced by mammals that are rich in nutrients including lactose and protein. Butter is a solid emulsion of fat globules, air, and water made from churned cream and used for cooking or a spread.
Asia-Pacific was the largest region in the milk and butter market in 2022.Western Europe was the second largest region in milk and butter market.
The regions covered in the milk and butter market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The main types of milk and butter are milk (dairy), butter.Butter is a dairy product created from churned cream’s fat and protein components are converted into butter.
The different applications include food, beverages, intermediate products, condiments, and Other Distribution Channels and are distributed through various channels such as supermarkets, hypermarkets, convenience stores, e-commerce, and other distribution channels.
The increasing demand for local, sustainable, and organic food production is expected to positively impact the milk and butter manufacturing market during the forecast period.Organic food production, including organic dairy products, places a strong emphasis on consumer health, environmental protection, and animal welfare.
Consumers are now becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognise recognize as healthy For instance, in June 2022, the Organic Trade Association, a US-based trade association representing organic businesses, the sales of organic dairy products and eggs increased by 11% as compared to the previous years. This growing demand for organic products offers considerable opportunities for dairy product producers in both developed and developing countries, which is likely to drive the market during the forecast period.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the milk and butter manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia.Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline.
The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the milk and butter manufacturing market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.
The internet of things (IoT) technology is increasingly being used to track dairy products, including milk and butter, and to ensure safe product handling.IoT technology consists of a network of devices, vehicles, or other items that continuously exchange data and provide insights into a process or system.
This technology is being used to track ingredients being used in products.Equipment connected to the internet in trucks and storage coolers can be used to monitor dairy products and tag them with environmental conditions like temperature or location that provide information about safe product handling during transportation.
For instance, the Chinese government implemented the National Food Quality Safety Traceability Platform, using IoT technology to improve the quality and safety of food production supply chains.
The countries covered in the milk and butter market are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The milk and butter research report is one of a series of new reports that provides milk and butter statistics, including milk and butter industry global market size, regional shares, competitors with milk and butter shares, detailed milk and butter segments, market trends and opportunities, and any further data you may need to thrive in the milk and butter industry. This milk and butter research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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